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Statement on economic governance

President Barroso and Vice President Rehn

President Barroso and Vice President Rehn issued a joint statement following today's trilogue agreement on the Two-Pack legislation on  economic governance in the euro area.

In the joint statement they noted that today's trilogue agreement is a significant step towards further reinforcing the Economic and Monetary Union.

Once legislation is adopted the Commission intends to take steps in the short-term – 6 to 12 months – towards a deep and genuine EMU as outlined in the Commission's Blueprint.

President Barroso and Vice President Rehn reiterated that the Commission is committed to putting forward ideas for Treaty changes in time for a debate before the next European Parliament elections in 2014.

Read the Commission's press release on the Two-Pack legislation, November 2011